11AM Hour: OpenAI CFO Sarah Friar, Citi's Head of AI Research Heath Terry & Former Minneapolis Fed President Gary Stern 11/6/26
Summary
Hosts Sarah Eisen and Carl Quintanilla discuss the post-midterm tech sell-off, featuring Citigroup’s Heath Terry who attributes the volatility to positioning rather than fundamental AI demand. OpenAI CFO Sarah Fryer details the company’s 70% quarterly growth, $1.25 trillion valuation, and community strategies to mitigate data center backlash. The episode also covers Anthropic’s IPO valuation risks, Microsoft’s consolidation of neocloud partners, and former Fed President Gary Stern’s analysis of the strong jobs report and inflation outlook.
Topics discussed
Sponsorship: Discover Cashback Card
Show intro: Midterms, AI, and OpenAI CFO preview
Jobs report surprise and market stability
Heath Terry on AI trade, data center moratoriums, and IPOs
Kate Rooney on Anthropic IPO odds and valuation
Transition and Peppa Pig ad
Sponsorship: Discover Cashback Card
Interview: OpenAI CFO Sarah Fryer on growth, safety, and fundraising
Analysis: New cloud providers and Microsoft infrastructure
Iran tensions and upcoming earnings for Nebius/CoreWeave
Peppa Pig advertisement
Sponsorships: Schwab and Mint Mobile
News update: White House tech panel and conservative memo
Preview: Gary Stern and Goldman Sachs chief
Gary Stern on jobs, Fed policy, and data center regulation
Polling: Voter priorities on corporate greed and Warren
Recap: OpenAI metrics and AI labor market impact
Legal disclaimer and Fidelity sponsorship
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